Matt, I agree Ascend will be around 35 by next week. It's "window dressing" time for portfolio managers from here on until March 31st, so I see dogs like the semiconductors stocks and a select few in the networking group (such as Bay, CS, and COMS) heading lower. Aside from Cisco, Ascend looks to be making headway esp. among the ISPs, and provided there are no warnings (Peter Yang said it's safe after the 31st), we could be sipping champagne by month end. Actually, unless this dog goes to 40, I'll only be sipping cheap beer.
P.S. Stay away from semiconductor-related stocks. Don't believe those bastards who call themselves analysts. They were so high on semiconductor stocks back in January and February when everyone knew the Koreans and Japanese were dumping chips below wholesale just to raise cash. How could MOT, MU, TXN compete with that? (TXN maybe, heavily into high-growth cellular DSP chips). Everyone in sector is cutting back, so I can't see a positive for equipment makers for awhile despite what analysts say are bargains. Look at them run with tail between their legs now as MU, MOT, and TXN have all missed. |
